Also in November we held another meeting in our series of investor updates where we were joined by Dorian Devers (Chief Financial Officer) and Shelley Hollingsworth (Investor Relations and Strategy Manager) of Contact Energy Ltd. The meeting was at the Sudima Hotel by Christchurch Airport and was very well attended so thank you to all who made the effort to join us.
Contact Energy is one of our preferred New Zealand holdings, primarily for their mix of assets and steady, repeatable dividend stream which makes it an ideal investment for clients seeking income. Dorian gave an interesting update on the company, including their successful forays into other areas such as Broadband but also on their proposed takeover of Manawa Energy which provides more South Island Hydro generation to add to their portfolio of assets. In addition, Contact are also one of the partners behind the Kowhai Park Solar Farm at Christchurch Airport, which once completed will provide 275 GWh per year. That’s enough to power 36000 homes and should come onstream by 2026.
Dorian also provided an update on financials which are healthy, and Contact expect to be improving their dividend yield over the next few years. We like utilities here at Hamilton Hindin Greene and as mentioned we continue to like Contact following the encouraging presentation from Dorian and Shelley.
